WisdomTree’s Crypto Gambit: XRP, Solana & 18 Others in a Delaware Dance 🎭

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WisdomTree, that most industrious of financial charlatans, has once again proven that the only thing more predictable than the market is its own audacity. By registering its CoinDesk 20 Fund in Delaware, it has done what only the truly desperate-or the very clever-would dare: bundle the top 20 cryptocurrencies into a single, glittering portfolio of potential disaster. One might call it a “diversified” strategy, though the term “institutional-grade” feels less like a compliment and more like a cry for help.

WisdomTree Registers with Delaware

The State of Delaware, that most accommodating of bureaucratic playgrounds, has been chosen by WisdomTree not merely as a legal address but as a theatrical stage for its grandiose ambitions. After all, who wouldn’t want to conduct business in a state where the law is as flexible as a yoga instructor’s schedule? It’s the kind of environment where even the most absurd financial schemes can masquerade as prudent investments.

Delaware’s legal system, with its reputation for corporate leniency, is the financial world’s version of a five-star hotel for the perpetually delinquent. While it may encourage modest price rebounds for tokens like XRP and Solana (or, as I prefer, “digital confetti with a capitalization problem”), one mustn’t confuse regulatory friendliness with actual compliance. The SEC, that most capricious of regulators, remains a looming shadow, its approval as elusive as a well-timed punchline.

According to its filing on Monday, the fund will offer exposure to 20 digital assets:

  1. Bitcoin
  2. Ethereum
  3. XRP
  4. Solana
  5. Cardano
  6. Chainlink
  7. Sui
  8. Hedera Hashgraph
  9. Avalanche
  10. Steller
  11. Bitcoin Cash
  12. Litecoin
  13. Uniswap Protocol Token
  14. Aptos
  15. Near
  16. Internet Computer
  17. Polkadot
  18. Aave
  19. Polygon Ecosystem Token
  20. FileCoin

How is the SEC’s Generic Listing Standards Related to This?

The SEC’s new “generic listing standards” are, of course, a masterstroke of regulatory efficiency-or perhaps a bureaucratic joke no one dared to laugh at. By slashing approval times to 75 days, it has made it easier for funds to go public, though one suspects the real goal was to create a system where even the most reckless ideas can be buried under paperwork. This isn’t an ETF filing; it’s a prelude to a filing, a legal warm-up for a performance that may never materialize.

WisdomTree’s maneuver is less a product launch and more a bureaucratic waltz-a dance of forms, deadlines, and the occasional regulatory slap on the wrist. Should it proceed, the S-1 registration will likely arrive with all the urgency of a telemarketer’s pitch. But let us not forget: this is merely the opening act of a farce that will outlive us all.

WisdomTree’s XRP ETF

In a move that blends optimism with sheer madness, WisdomTree has already filed for an XRP ETF. The SEC, in its infinite wisdom, approved the application in February only to delay the final decision until October 25, 2025-a date so far in the future it might as well be written on a napkin. One can only assume the agency is either time-traveling or suffering from a severe case of regulatory paralysis.

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2025-09-23 11:10